Get started

Harmonic Patterns

GBPJPY accurate analysis professional strategyThe GBP/JPY pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 197.44 Target Levels: 1st Resistance – 199.20 2nd Resistance – 200.20
by Angela-Lilly
XAUUSD 8H1. Wyckoff Phases and Structural Analysis The chart is divided into classic Wyckoff Phases—Phase A, Phase B, Phase C, and Phase D—suggesting a potential accumulation or reaccumulation pattern. Phase A - Reaccumulation: Early stage where preliminary support (PSY) and automatic reaction (AR) are identified, hinting at the beginning of a potential reaccumulation zone. Phase B - Distribution: This phase includes various swing highs and lows, establishing a broader range, and showing signs of a Secondary Test (ST) in distribution. There's also a Sign of Weakness (SOW) in Phase B, indicating initial distribution signs, but later phases suggest this could be a false distribution. Phase C - Spring or Test: Typical in Wyckoff theory, this is the phase where the price tests liquidity by pushing lower before reaccumulating. The pattern indicates a possible shakeout to trap sellers. Phase D - Reaccumulation: In this phase, the Last Point of Support (LPS) has been marked, suggesting that price is preparing to move upwards out of the range, but careful monitoring is needed for confirmation. 2. Elliott Wave Structure The wave labeling indicates a series of impulsive and corrective waves, with the current high marked as Wave (5) in a diagonal formation. Diagonal Wave 5: The peak around $2,823.37 and $2,851.21 (1.236 extension) marks the end of a potential diagonal fifth wave, hinting at a possible completion of the trend. Corrective Waves (1), (2): After reaching Wave (5), the chart indicates corrective waves in orange lines, suggesting that the price could be entering a multi-wave correction phase to retest previous support zones. 3. Key Price Levels and Fibonacci Extensions Volume Divergence by Wave 5 (1.236 Extension): The chart highlights volume divergence at $2,803.59 and the diagonal completion around $2,823.37, signaling potential exhaustion and a likely reversal or deeper pullback. Invalidation Levels: Notably, $2,733.24 is labeled as the Invalidation Level for further bullish progression. If price falls below this, the wave structure and bullish continuation are at risk. Support and Resistance Zones: POC (Point of Control): Around $2,594.99 is a significant level where trading volume concentrated, acting as support in Phase D of reaccumulation. PWL (Previous Week Low) and PMH (Previous Month High): These levels serve as short-term reference points for retracement and potential support or resistance. 4. Trading Traps and Manipulation Zones Creek: The chart marks an area as "Creek," which Wyckoff practitioners recognize as a resistance zone within the reaccumulation phase that needs to be broken decisively for further upside. SOW (Sign of Weakness) in Phase B: This area is marked to indicate possible price manipulation; it’s designed to induce selling pressure and trap retail traders, only for the price to potentially rebound. Buy Side Liquidity (BSL): Buy-side liquidity zones are marked at the peaks, suggesting these areas may serve as potential reversal zones due to liquidity grabbing, especially in Phase B. 5. Strategic Points of Interest and Future Outlook Phase C – Final Test or “Spring”: This phase acts as a last point of support before a more confirmed move higher, assuming the reaccumulation thesis holds. The test in Phase C indicates a potential turning point for another bullish run. Resistance and Support Lines for Distribution Phases: Resistance Line at the BC Distribution level might act as an overhead ceiling if prices try to push higher. Support Line at AR Distribution: If prices fall below this line, it could invalidate the reaccumulation structure and trigger a larger downtrend. Projection Path: Orange lines map out a potential future wave structure, indicating anticipated moves within the corrective phases, with likely touchpoints at POC (1D) and other key levels. This shows a bearish bias in the short-term as price tests lower levels in a corrective structure. 6. Volume and Market Sentiment Indicators The presence of volume divergence, especially at key highs in Wave 5, suggests that buying momentum may be waning. High-Volume Nodes: These levels may serve as potential support or resistance zones where institutional interest is present, and they often act as magnets for price action. Summary This chart indicates a complex structure where XAU/USD may be transitioning from a bullish trend into a possible distribution and correction phase, as seen in the Wyckoff reaccumulation/distribution phases. Key levels around $2,594.99 (POC) and $2,733.24 (invalidation) are essential for determining the validity of the reaccumulation thesis. If the price breaks significantly below these zones, it may signal the end of the bullish trend. The setup shows a mixed outlook, with potential for both upward continuation (if reaccumulation confirms) or deeper correction if distribution pressure holds.
FX:XAUUSDLong
by spacedevil
USDJPY H1 | Bullish Bounce Based on the H1 chart analysis, we can see that the price is falling to our buy entry at 153.86, which is a pullback support that aligns with the 23.6% Fibo retracement Our take profit will be at 154.66, a multi-swing high resistance. The stop loss will be placed at 152.97, a pullback support that aligns with the 50% Fibo retracement. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
1
XAUUSD / TEST TO SUPPLY ZONE BEFORE DECLINE / 4HXAUUSD / 4H TIME FRAME HELLO TRADERS The asset is aiming to reach a supply zone between $2,747 and $2,732, This zone represents an area where selling pressure is expected, potentially capping upward movement. Prices are under downward pressure, especially after the news about Trump’s election, which has impacted the market sentiment. As long as the price stays below or within this supply zone, the expectation is for further declines , If prices stabilize below the current supply zone, they are expected to move down towards a demand zone between $2,657 and $2,638. For a confirmed downtrend, the asset would need to stay below this demand zone, potentially pushing prices lower toward the next zone between $2,618 and $2,605 , If prices break through the upper boundary of the supply zone ($2,747), there may be an upward move toward a higher supply zone between $2,773 and $2,790, suggesting a possible trend reversal or upward correction.
OANDA:XAUUSDShort
by ArinaKarayi
WTI OIL targeting the 1D MA200 at $76.50WTI Oil (USOIL) managed to close yesterday above its 1D MA50 (blue trend-line) despite breaking below it intraday. Even if we see a pull-back like September 25-26, Oil is more likely to test the 1D MA200 (orange trend-line) as since the August 12 High, the market is practically ranging between the Support and Resistance Zones. Our Target is $76.50. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:USOILLong
by TradingShot
Falling towards 50% Fibonacci support?The Swissie (USD/CHF) is falling towards the pivot which has been identified as a pullback support that lines up with the 50% Fibonacci retracement and could bounce to the 1st resistance which acts as a pullback resistance. Pivot: 0.8701 1st Support: 0.8634 1st Resistance: 0.8774 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
XAUUSD: Buyers Dominate!Dear traders! Today, gold prices have made an impressive recovery, rising more than $48.4 to $2,708.8/ounce, marking a strong move with an increase of more than 1%. This recovery is reinforced by the weakness of the US dollar, along with the news that the Federal Reserve is expected to cut interest rates by 0.25% this Thursday. Although future interest rate cuts may face challenges if former President Trump returns, this trend opens up many positive opportunities for gold in the short term. As seen from the 1-hour chart, the uptrend is forming and is being consolidated after the correction. In addition, the current gold price is reacting at the support zone of the two EMAs (34 and 89), creating a notable area. Therefore, Victor personally appreciates that based on the current momentum, if the price breaks the short-term resistance level near $2,710, the possibility of gold prices continuing to increase to higher levels in the coming time is high. At the time of writing, the realization phase is forming, Victor is waiting for confirmation with the aim of strengthening further.
OANDA:XAUUSDLong
by Bentradegold
Bearish drop?The Kiwi (NZD/USD) has reacted off the pivot and could drop from this level to the 50% Fibonacci support. Entry: 0.6016 1st Support: 0.5985 1st Resistance: 0.6038 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Bullish bounce?USD/JPY is falling towards the support level which is a pullback support that is slightly below the 61.8% Fibonacci retracement and could bounce from this level to our take profit. Entry: 152.38 Why we like it: There is a pullback support level that is slightly below the 61.8% Fibonacci retracement. Stop loss: 151.57 Why we like it: There is a pullback support. Take profit: 153.76 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
Bullish bounce?US Dollar Index (DXY) is reacting on the pivot which has been identified as a pullback support and could rise to the 1st resistance which acts as a pullback resistance. Pivot: 104.41 1st Support: 103.87 1st Resistance: 105.26 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
TVC:DXYLong
by ICmarkets
BTC BULL CASE 07/11/2024📉 BTC/USDT Update 📉 The current 5-wave upward pattern appears to be complete, and the presence of bearish divergences on the 15-minute, 1-hour, and 4-hour timeframes indicates a likely downward correction. Additionally, the declining volume supports this outlook, suggesting potential weakness in the upward momentum. 🔸 Confirmation Level: A break below $75,600 would confirm the start of a corrective move. 🔸 Target Zones: Initial Support: $72,000 - $71,700 Deeper Support: 0.61-0.7 Fibonacci levels, around $70,800 - $69,800 If BTC holds these levels, a rebound could take the price toward $82,000 - $85,000, indicating the continuation of the bullish trend. However, a break below $66,000 would mark a bearish shift, opening the door to potential targets in the $44,000 - $37,000 range. Disclaimer: ⚠️ This is not financial advice! All information provided is for educational purposes only. Always conduct your own research before making any investment decisions. Trading carries a high risk and may result in the loss of capital
COINBASE:BTCUSD
by RhinoAkaBear
USDCHF Short-term Channel Up targeting 0.88120The USDCHF pair is following very accurately our September 17 projection (see chart below) and is already half-way through our 0.90500 Target: As mentioned then that was a long-term bottom buy opportunity, but that doesn't mean shorter ones don't exist on the lower time-frames. On this chart, we've identified one on the 4H time-frame where the price got rejected at the top of the October Channel Up and pulled back to the 0.382 Fibonacci retracement level. This resembles the October 08 0.382 Fib rejection, which was also contained above the 4H MA50 (blue trend-line) and resumed the uptrend all the way to the -0.236 Fib extension. As a result, our short-term Target is 0.88120. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
Bearish drop?AUD/CAD is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance which has been identified as a pullback resistance. Pivot: 0.919899 1st Support: 0.91503 1st Resistance: 0.92627 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets